Markets reacts to possible peace Iran talks

Invest America is ringing the opening bell on Wall Street. It's highlighting their support of everyday American child receiving an investment account backed by the US Treasury. Of course, Michael and Susan Dell of Dell Technologies are doing the honors today. Taking a live look at the stock market, the Dow is up more than 500 points, which is good news. I want to bring in MarketWatch reporter Isabel Wang. Isabel, great to see you. So the president has been touting this peace plan with Iran, this supposed peace plan. How is that shifting the market and oil prices right now? So oil prices are lower this morning and stocks are surging at the open. But right now, we are seeing a lot of conflicting headlines coming from both countries, which is not very unusual in a situation like this. So it's really hard to know exactly what information is credible at this point, but what is clear is that this conflict is far from over. We saw oil prices dip earlier today, but if a ceasefire or a broader deal isn't closed, that could change very quickly. So I would say that uncertainty is likely to keep markets on edge for a while, meaning more volatility ahead. Oil could move higher again. Stocks could come under pressure, and inflation may once again become a major concern.

Oh, that painful domino effect. So, Isabel, gas prices, of course, are still on the rise, almost reaching an average of $4 a gallon. Diesel also up about $0.30 from last week. Can we expect to see any relief at the pump anytime soon for those of us considering driving to spring break instead of flying, to avoid those TSA lines? I mean, if we saw oil drop significantly, say back toward $60 a barrel, then, yes, you could see some relief at the pump, but that's a pretty big if at this point. Right now, there are ongoing supply concerns, especially after recent attacks on oil and gas infrastructure in the Gulf, and that's keeping oil prices elevated. So even with negotiation happening or not, oil is likely to stay around $90 a barrel or higher for the foreseeable future. So we may see some short-term fluctuations in gas prices, but a meaningful and sustained drop is going to be tough in the near term.

All right, Isabel Wang, thank you very much. And look, Isabel, we haven't done room rater since the pandemic, but I've got to say, I'm looking behind you there, you've got this book The Coming Wave,which is about AI technology, which we're going to do a segment about that in a little bit. I read that book. It's really good but also is-- I mean, you've got this-- The fan? --CCR-- no, Creedence Clearwater Revival up there. Like how? You're too young, and I love it. Thank you so much. That's part of our collection. Yes. I love the fan with the traditional Chinese characters. By the way, Adriana Diaz speaks fluent Mandarin. I don't know if you knew that. [SPEAKING CHINESE] A little bit, yes, I can. [LAUGHTER] She was like, not today. She's like, not today, girl. Isabel, great to have you. Come back anytime. Thank you.